In the United Kingdom, some 75% of all businesses in the private sector are family owned and/or run. It is calculated that around half of the entire workforce is employed by a business of this nature. It follows therefore, that divorce and separation between couples where there is a family business element is quite commonplace.
In order to recognise the different needs of these couples, an understanding as to the unique nature of a family business, the additional pressures on those involved and the considerations they have to make, not only for themselves but also for the wider family, is essential. One of the biggest concerns for people involved in a family business is that business disagreements can put a strain on family relationships. The reverse is also true and disagreements in family relationships can also put a strain on business agreements. This is not only likely to have an impact on the wider family, but the work force and the business as a whole.
Each family is unique and every family business is unique. What is required, if you find yourself in a position where you are facing a possible separation or divorce, and working in a family business, is a flexible approach coupled with an understanding of the pressures involved.
We at Banner Jones are able to offer the full breadth of dispute resolution procedures to our matrimonial clients, coupled with a specialisation in advising family businesses and a commitment to supporting these and other business types across the region. Whether your question is related to matrimonial problems or centres around business succession or governance issues, we can help.